Bigcue,
Thanks for your reply. I agree with much of what you say, appreciate the tip about NI, and sympathize with your situation. I simply count myself lucky that I was not able to act on the Forbe's story at the time. It wasn't that I foresaw the difficulties Valence would face and the impact on its stock price.
In reply to the general thrust of your comments: I can only argue that what is done is done, so while avertible mistakes may have been made, the question now is how both we investors and Valence should proceed from here. On the investor side, it seems to me that either we investors continue to hold the stock and remain patient and supportive (and of course vigilant), or we sell the stock now with the possibility of buying back in later. My comments were intended to encourage those of us continuing to hold to remember that we and management are in this together. Our interests are completely aligned: we all will benefit from success and suffer from failure. In this sense, I cannot see that our common cause is promoted by impugning management's intelligence or integrity, or bombarding them with frequent and urgent calls and requests. Of course, none of this is to say that management is entitled to be cavalier about the shareholders' legitimate need for timely information, nor is it to say that the shareholders are not entitled to form and broadcast opinions of management's performance. In brief (something I'm not noted for), I feel each side should be good-willed when making judgements about the other.
Finally, while your point is well-taken that an inability to forecast accurately six weeks ahead may be the sign of going nowhere, still the upshot of my own analysis of where the matter now stands is to remain cautiously optimistic. I choose to hold despite being many, many thousands under water. I can stand a little more schedule slippage, given the novelty of the technology and the potential payoff. After all, this is what buying and holding a speculative stock is all about: far more often than not, you lose, but when you win, you can win big. Huge risk; big reward. |
